goes to eleven Wrote: ------------------------------------------------------- > You really want to stick it to the car dealership? > Keep and maintain the car you’ve got. > > I am 46 and I have owned 4 cars my entire life. > And I sold one of them only because it was a > two-seater and I started to have kids. > > Some great financial advice: don’t dump your > money into one of the worst investments you can > make - an automobile. Not having kids is also great financial advice, but we don’t base all of our decisions on the numbers, now do we (father and dude who enjoys cars as well)…
I don’t think cars are assets. They are more like consumables. If you buy shoes, for instance, your goal is to use them for something until they wear out. Cars are similar but they are more expensive.
ohai Wrote: ------------------------------------------------------- > I don’t think cars are assets. They are more like > consumables. If you buy shoes, for instance, your > goal is to use them for something until they wear > out. Cars are similar but they are more expensive. Listen to the truth fellas.
Reggie Wrote: ------------------------------------------------------- > Seriously? You’re going to categorize every car > salesman as a “sleaze-ball”? > > When I first told my future brother-in-law (who is > a carpenter) that I graduated Univeristy with a > degree in Economics and Finance and that I’m > pursuing the CFA, he made some sly comment like > “oh don’t forget us little people”. I hate those > remark’s when you tell people your in finance. > Those who are narrow-minded, like yourself, think > everyone in finance is just a “capital pig chasing > the big bucks” so to speak. I’ve been reading > finance books since I was in grade 9. It’s just a > subject that’s interested me more than any other > and I think it’s a dynamic field to work in. I > Hate being painted with one stroke of a brush. I’m > sure salesmen do too. THOSE who are narrow minded like YOURSELF take one sentence very seriously, your a joker. It was an offhand comment. You brother-in-law is probably really smart but also really enjoys the warm feeling that framing walls and hanging Sheetrock brings him correct? The little people in life are there because they cant pull their head out of their ass. They find that they graduated high school and that they can get a GREAT job in construction laying floors and make enough to get 2 new trucks with dual exhaust and rims in the burbs and eat out for dinner 4 times a week. YAAA they deserve whatever mediocre life comes their way. You should have told him not to be such a lazy turd and use his brain more and hands less. Stand up for yourself, geez, if somebody paints me with the wrong color ill shove the brush down their throat. They are not salesmen any more than the dude who sold you your last happy meal. They waited for you to walk through the door made your feel warm and fuzzy, then took your money, and gave you diarrhea. They arnt your BUDDY, they arnt your FRIEND, they are there to take your money. Will that be cash, check, or on your Visa CC? Congratulations on learning to read by the 9th grade. Dont fall over patting your self on the back.
I didn’t realize you had such strong feelings. I try not to argue with people like my brother-in-law. I find it’s just a waste of time. There’s a great saying: “Never argue with idiots… they bring you down to their level and then they beat you with experience.” Now I’m not saying he’s an idiot whatsoever but if that’s they way he wants to think, or other people for that matter, then so be it. I just know I’ll never judge someone solely based on the career path they’ve chosen. You never know their background or why they have chosen to do what they’re doing. I don’t know if you can compare a car salesman to someone selling a happy meal. I’m sure intimate knowledge of your products, charisma, and great people skills can go a long way in car sales. I don’t think just any goofball can be successful at it, although I’m sure there’s tons of examples.
mar350 Wrote: ------------------------------------------------------- > BiPolarBoyBoston Wrote: > -------------------------------------------------- > ----- > > Anybody else got some good tactics? > > > yeah, stay really long and don’t buy anything. > just keep going along with them and waste all > their time. eventually they’ll give up. this is > when you start asking about possible ways to get > what you want. they’ve already invested a ton of > time in you and their manager has been > watching…they need to close something to not > look like they have been taken. start asking about > what you would need for the deal to get done > (pricing, extras, new parts, etc.) and lead them > down your path to the car you want at the price > you want. if they can’t do it let them know you’ll > be back later in the week to check out another car > with your wife/whoever to give them some time to > get the package together. maybe even call to see > if they can meet your terms. at the end of the > month all salespeople are trying to meet quotas so > if you bring your terms in then you have a good > shot at getting exactly what you want. Same tactics apply in champagne bars… apart from the wife bit!
ohai Wrote: ------------------------------------------------------- > I don’t think cars are assets. They are more like > consumables. If you buy shoes, for instance, your > goal is to use them for something until they wear > out. Cars are similar but they are more expensive. agreed - they are one of the fastest depreciating ‘assets’ you can own. def a liability. i’ll never buy a new car until i have like 3mm in the bank
The value gap between used and new cars has dropped significantly for some models in recent years and has actually flipped for a few. Used cars are still generally a better value, but people who stick to that as a golden rule and don’t do their research may find that their neighbor got a better value by buying new.
mar350 Wrote: ------------------------------------------------------- > ohai Wrote: > -------------------------------------------------- > agreed - they are one of the fastest depreciating > ‘assets’ you can own. def a liability. This. What else do you call something that has loses value and has regular cash outflows (petrol, car washes) and irregular (servicing/repairs) over it’s life time?
Muddahudda Wrote: ------------------------------------------------------- > > What else do you call something that has loses > value and has regular cash outflows (petrol, car > washes) and irregular (servicing/repairs) over > it’s life time? A start-up company?
higgmond Wrote: ------------------------------------------------------- > Muddahudda Wrote: > -------------------------------------------------- > ----- > > > > What else do you call something that loses > > value and has regular and irregular cash outflows > > over it’s life time? > > A start-up company? a woman?
http://financialedge.investopedia.com/financial-edge/0211/Buying-A-Car-The-Worst-Investment.aspx?partner=ntu2 Saw this and thought of you…
Ok so if cars lose 30% of their value just coming off the lot, then what’s the point of getting a brand new car?
^^because it’s more convenient than buying a used vehicle.
jorgeam86 Wrote: ------------------------------------------------------- > ^^because it’s more convenient than buying a used > vehicle. Assuming a new car, say a Civic costs $25,000; a similar Civic about 4 years old and still more or less in mint condition would cost at max $15,000. Paying $10,000 for convenience is too rich for my blood.
tj2001 Wrote: ------------------------------------------------------- > Ok so if cars lose 30% of their value just coming > off the lot, then what’s the point of getting a > brand new car? Well, although the value to you declines precipitously, you generally can’t buy a 1 year old car for 30% of the new price. Meanwhile, the new car will have an OEM warranty, and may have other goodies thrown in as well (maintenance, etc), plus the peace of mind knowing there’s not some hidden defect in the car for which you have no recourse.
ColdDarkMatter Wrote: ------------------------------------------------------- > www.truecar.com if you’re buying new Thanks!
ColdDarkMatter Wrote: ------------------------------------------------------- > www.truecar.com if you’re buying new Nice site, thanks.
NakedPuts Wrote: ------------------------------------------------------- > tj2001 Wrote: > -------------------------------------------------- > ----- > > Ok so if cars lose 30% of their value just > coming > > off the lot, then what’s the point of getting a > > brand new car? > > Well, although the value to you declines > precipitously, you generally can’t buy a 1 year > old car for 30% of the new price. Meanwhile, the > new car will have an OEM warranty, and may have > other goodies thrown in as well (maintenance, > etc), plus the peace of mind knowing there’s not > some hidden defect in the car for which you have > no recourse. Excellent points. I used to think that anyone who buys new is stupid and I went into my last purchase fully intending to buy used. After some pricing research and seeing what was available in the used market, I discovered that new was actually a better value for the particular vehicle I was interested in. I’m sure that isn’t the case with all vehicles, but it certainly pays to do your research.